Bitcоin

TA: #Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase

Earn money with the top Binance exchange

Bitcoin struggled above the $21,500 resistance zone against the US Dollar. BTC is trimming gains and might find support near the 100 hourly SMA.

  • Bitcoin climbed above the $21,500 level before it faced sellers.
  • The price is now above the $20,000 level and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $21,175 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could find bids near the $20,000 zone or the 100 hourly simple moving average.

Bitcoin Price Dips

Bitcoin price started an upside correction above the $20,000 resistance zone. There was a decent recovery wave above the $20,200 and $20,500 levels.

The price climbed the 61.8% Fib retracement level of the key downside from the $22,950 high to $17,600 low. Finally, there was a move above the $21,000 resistance zone and the price settled above the 100 hourly simple moving average.

However, the bears were active above the $21,500 level. A high was formed near the $21,698 and the price started a downside correction.

There was a break below the 23.6% Fib retracement level of the upward move from the $17,600 swing low to $21,698 high. Besides, there was a break below a key bullish trend line with support near $21,175 on the hourly chart of the BTC/USD pair.

The price is now trading below $21,000. An immediate resistance on the upside is near the $20,550 level. The first major resistance is near the $21,000 and $21,220 levels.

Source: BTCUSD on TradingView.com

A clear move above the $21,220 level might call for a move to $21,700. Any more gains might send the price towards the $22,200 level in the coming sessions.

More Losses in BTC?

If bitcoin fails to clear the $21,220 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,000 level and the 100 hourly SMA.

The next major support is near the $19,650 level. It is near the 50% Fib retracement level of the upward move from the $17,600 swing low to $21,698 high. A downside break below the $19,650 support could restart downtrend in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $20,000, followed by $19,650.

Major Resistance Levels – $20,500, $21,220 and $21,700.

   
Source

Показать больше

Добавить комментарий

Кнопка «Наверх»
  • bitcoinBitcoin (BTC) $ 19,440.67 1.62%
  • ethereumEthereum (ETH) $ 1,065.78 3.61%
  • tetherTether (USDT) $ 1.00 0.34%
  • cardanoCardano (ADA) $ 0.454403 2.1%
  • dogecoinDogecoin (DOGE) $ 0.065509 2.94%
  • daiDai (DAI) $ 1.00 0.42%
  • tronTRON (TRX) $ 0.065453 3.2%
  • leo-tokenLEO Token (LEO) $ 6.03 2.46%
  • matic-networkPolygon (MATIC) $ 0.476277 7.97%
  • litecoinLitecoin (LTC) $ 51.36 1.48%
  • ftx-tokenFTX (FTT) $ 24.63 4.49%
  • okbOKB (OKB) $ 12.12 3.26%
  • crypto-com-chainCronos (CRO) $ 0.113719 2.72%
  • chainlinkChainlink (LINK) $ 6.08 1.72%
  • stellarStellar (XLM) $ 0.109951 5.44%
  • cosmosCosmos Hub (ATOM) $ 7.47 4.55%
  • algorandAlgorand (ALGO) $ 0.308770 7.13%
  • moneroMonero (XMR) $ 113.48 3.18%
  • ethereum-classicEthereum Classic (ETC) $ 14.67 1.96%
  • bitcoin-cashBitcoin Cash (BCH) $ 101.03 1.57%
  • vechainVeChain (VET) $ 0.022323 2.95%
  • hedera-hashgraphHedera (HBAR) $ 0.062356 2.05%
  • tezosTezos (XTZ) $ 1.36 1.33%
  • theta-tokenTheta Network (THETA) $ 1.17 2.9%
  • kucoin-sharesKuCoin (KCS) $ 9.75 0.75%
  • eosEOS (EOS) $ 0.912486 2.83%
  • makerMaker (MKR) $ 899.77 5.99%
  • iotaIOTA (MIOTA) $ 0.264743 3.43%
  • huobi-tokenHuobi (HT) $ 4.81 0.03%
  • zcashZcash (ZEC) $ 53.54 1.74%
  • basic-attention-tokenBasic Attention (BAT) $ 0.403146 10.66%
  • gatechain-tokenGate (GT) $ 4.05 4.43%
  • neoNEO (NEO) $ 8.34 3.33%
  • zilliqaZilliqa (ZIL) $ 0.039144 6.94%
  • blockstackStacks (STX) $ 0.397226 1.24%
  • wavesWaves (WAVES) $ 5.08 2.83%
  • havvenSynthetix Network (SNX) $ 2.24 3.16%
  • enjincoinEnjin Coin (ENJ) $ 0.494623 4.07%
  • dashDash (DASH) $ 41.83 0.71%
  • holotokenHolo (HOT) $ 0.002089 2.64%
  • nemNEM (XEM) $ 0.038151 3.46%
  • decredDecred (DCR) $ 22.39 3.03%
  • qtumQtum (QTUM) $ 2.77 3.66%
  • bitcoin-goldBitcoin Gold (BTG) $ 15.17 1.59%
  • ravencoinRavencoin (RVN) $ 0.023033 5.31%
  • 0x0x (ZRX) $ 0.308582 7.57%
  • omisegoOMG Network (OMG) $ 1.78 2.87%
  • iconICON (ICX) $ 0.279503 6.49%
  • ontologyOntology (ONT) $ 0.229727 6.85%
  • siacoinSiacoin (SC) $ 0.003721 4.77%
  • hiveHive (HIVE) $ 0.477158 15.31%
  • liskLisk (LSK) $ 1.07 2.24%
  • numeraireNumeraire (NMR) $ 23.27 17.75%
  • digibyteDigiByte (DGB) $ 0.009068 3.28%
  • statusStatus (SNT) $ 0.029174 10.5%
  • republic-protocolREN (REN) $ 0.111129 5.33%
  • nanoNano (XNO) $ 0.813725 4.43%
  • steemSteem (STEEM) $ 0.217551 5.64%
  • kyber-networkKyber Network Crystal Legacy (KNCL) $ 1.25 4.19%
  • augurAugur (REP) $ 7.98 3.15%
  • bitcoin-diamondBitcoin Diamond (BCD) $ 0.171370 3.01%
  • energiEnergi (NRG) $ 0.551825 1.66%
  • ethlendAave [OLD] (LEND) $ 0.566547 3.7%
  • bytomBytom (BTM) $ 0.011218 2.9%
%d такие блоггеры, как: